Many had suspected that the run-off election in Georgia would go to Republicans, or at least that one of the two seats would. Yet with both Georgia Senate candidates going to the Democrats, Democrats will now have 50 votes in the Senate, with Vice President-elect Kamala Harris as the tie-breaking vote. Importantly, it will also mean Democrats will lead key committees in the Senate.
With several cannabis-related deregulation bills having previously passed the House but stalled in the Senate, cannabis executives and investors had thought there might be some movement on deregulation in the new Congress, but most had thought it would be slow and deliberate, and would stop short of full legalization.
However, the Georgia runoff seems to have changed the calculus. Investors can see that in the actions of several prominent U.S. multi-state operators (MSOs), each of which is now scrambling to raise money to accelerate their growth.